Every week it seems that more and more of the world's 'big players' are taking note of cryptocurrency. This week it was the turn of Nasdaq to comment.
Adena Friedman, CEO of Nasdaq (the second largest stock exchange in the world, in case you didn't know) stated that maturation of the market is vital before they can become a crypto exchange, but that they were open to the possibility down the line.
CNBC interviewed Adena, and you can find that interview here.
As more people enter the cryptocurrency space, the market will naturally mature and become a lot less volatile. Right now we have a space where a small number of people are involved (in terms of worldwide population), and an even smaller number of people own very large stacks of cryptocurrencies (these people are nicknamed 'whales').
Whenever these 'whales' make a move in the market, to buy or sell, naturally it makes a huge impact, and that can cause mass panic selling (as we saw in January and February with the Mt. Gox Bitcoin sell-off), or it can cause FOMO (Fear of Missing Out), and we see the markets skyrocket as they did at the end of 2017.
Regardless of the way the markets go, such volatility is bad for the average investor, and it's keeping the vast amount of institutional money away from the space.
The overall sentiment is that there's a long way to go for the cryptocurrency markets to reach a point of maturity, but it's very encouraging to know that the likes of Nasdaq are waiting patiently to enter the market when it does.
What do you think about Nasdaq's comments? How long do you think it'll be before we see the crypto markets mature? Comment below.